This is Unforgivable, You Morons!

One in particular, George Gilder, has my attention because we view progress in much the same way.

My research has shown clearly that the worst times, like the 1930s and 1970s, see the greatest innovations in technology and new entrepreneurial companies. And George sees radical entrepreneurs and innovators as the key to human progress. That’s because such innovations can only happen when you risk failure and bankruptcy.

The problem is that governments around the world have a big monetary and fiscal campaign against failure.

I heard a speaker (I think it was Tony Robbins) once quote: “Success is going enthusiastically from failure to failure.”

Now that’s wisdom. How many economists and politicians understand that? I’d wager the number’s too small to bother mentioning.

That’s why I seek out people like George Gilder and invite him to our conferences. He’s one of those people you don’t always hear in the mainstream because they think differently. They’re radical innovators themselves!

For example, George and I share the view that mainstream economists and politicians are trying to turn our dynamic and organic economic and capitalistic process into a machine. They only want the growth. They don’t want the necessary downtime.

In doing so, they achieve nothing but to essentially kill the Golden Goose!

In fact, Keynesian economics and Marxism are the heretical doctrines that have taken over economic thinking. And they’re doing untold damage.

It was originally Adam Smith, in the late 1700s, that introduced the concept of free-market capitalism with “the invisible hand,” and then Joseph Schumpeter that followed in the early 1900s with the concept of creative destruction.

These were economists that understood the true nature of our economy. And George and I agree with them. Without a doubt, failure is more important than success.

Those in power – those who apply Keynesian economics – must grow up and stop pretending they can turn the economy into a machine of constant, incremental and linear progress. That is not remotely the reality of our world or our exponential and cyclical process of wealth creation.

The ongoing play of opposites is critical to dynamic, organic, biological processes. Unfortunately, that is exactly what most economists don’t understand. Governments from the U.S. to Europe to China are actively trying to become the driving economic force and they’re doing everything they can to control growth, inflation and innovation instead of unleashing these forces so they can do what they’re intended to do.

To those I say: This is unforgivable, you morons!

This is such a misunderstanding of reality it’s beyond belief. It’s a crime against humanity.

Thank God for the few clear people like George Gilder and other speakers we brought to our conference in November.

We need a crisis and a revolution to shake us out of the idiotic, coma economy emerging around the world. And that’s exactly what I expect to see in the great deflation of 2014 to 2019.

Put on your seatbelts and protect your assets until the economy kicks the asses of these morons and reasserts its innovative capacities!

Then get ready for the ride of your life.
Harry

P.S. Another big-picture thinker I keep on my radar is John Mauldin. Recently he and I recorded a video in which we discussed why we expect the next big downturn to occur and what seven investments we’d make to prepare for the fall out and beyond. This video is available to you free of charge so watch it now.

In Harry Dent's latest book, Zero Hour: Turn the Greatest Political and Financial Upheaval in Modern History to Your Advantage, he guides you through the revolution ahead to help you understand the… Read More>>

Harry studied economics in college in the ’70s, but found it vague and inconclusive. He became so disillusioned by the state of the profession that he turned his back on it. Instead, he threw himself into the burgeoning New Science of Finance, which married economic research and market research and encompassed identifying and studying demographic trends, business cycles, consumers’ purchasing power and many, many other trends that empowered him to forecast economic and market changes.